The moves are part of the 7-Eleven chain operator’s plans to fend off a $47 billion takeover bid from Alimentation Couche-Tard, which runs the rival Circle K chain.

Eleven parent company Seven & i wants to spin off its North American convenience store business, which includes roughly 13,000 U.S. locations.

Canadian convenience store chain Alimentation Couche-Tard (TSE:ATD) has been actively pursuing 7-Eleven branches throughout North America for a

CEO Ryuichi Isaka will step down from May 27, with lead outside director Stephen Dacus taking up the role on the same day.

Bain Capital is nearing a deal to buy Seven & i Holdings Co.’s supermarket business, according to people familiar with the matter. Most Read from BloombergHow Upzoning in Cambridge Broke the YIMBY Mol

Japan's Seven & i Holdings, the parent company of the 7-Eleven convenience store chain, has named a new CEO and plans to sell billions in assets as it tries to fend off a takeover bid from a Canadian rival.

Japan's Seven & I, the parent company of the Japanese 7-Eleven convenience store chain, says it is selling its supermarket store assets to Bain Capital for about $5.4 billion.

Japan's Seven & I, the parent company of the Japanese 7-Eleven convenience store chain, says it is selling its supermarket store assets to Bain ... Canada’s Alimentation Couche-Tard.

Seven & i Holdings, the Japanese operator of the 7-Eleven convenience store chain, appointed its first foreign CEO and handed him the task of overhauling its business to fend off a US$47-billion overseas takeover bid and engineer a recovery.